Suture Anchor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

  • Single User License $3500

Suture Anchor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : February, 2023 | Medical Devices

Report Digest

Global Suture Anchor Market: Snapshot

Suture anchors are devices that help in faster recovery of injuries. They are used when an athlete suffers a ligament detachment during practice or in a match. 

Suture anchors are increasingly being used for reattaching tissue to bone, which is fueling product demand and hence, positively impact the overall suture anchors market.

Another factor fueling the suture anchors demand is sport-related injuries and ailments. Several sports involve the straining of bones and muscles in different parts of the body. Injuries to key body parts could fuel the suture anchors demand and propel the overall suture anchors market. 

For pain-free movement of joints, ligaments and tendons must be injury-free. Suture anchors provide support to tendons and ligaments and helps the parts remain in excellent condition for long time periods. As a result, suture anchors have witnessed a surge in demand for tendon and ligament protection, propelling the overall suture anchors market as well. 

Other advantages such as rapid and easy insertion and removal of suture anchors and excellent strength properties are also expected to propel the suture anchors market, in future. 

North America is expected to account for a large share in the global suture anchors market due to an increasing population section suffering from sport-related injuries in countries such as the U.S and Canada, and availability of technologically advanced suture anchors, in this region. Players in the global suture anchors market are engaging in collaborations to improve their revenue share.

They are also looking at research and development undertakings to try and develop technologically innovative suture anchors, which would help in curing different types of injuries. 

In future, the biodegradable variety of suture anchors could be in greater demand than metal suture anchors since they have a reduced load of failure.

Analysts believe that suture anchors could witness significant demand post the COVID-19 pandemic phase.

Global Suture Anchor Market: Overview 

There are possibilities that an athlete might suffer detachment of a ligament or tendon and/or any other soft tissue in the body while practicing or during the game. These injuries are extremely painful and require intensive care. Since, they ligaments and tendons are essential for the smooth movement of the joint, they require a solid support to keep them in place during the healing period. As a result sutures anchors are in high demand. Owing to this growing demand for the anchors, the global suture anchor market is expected to witness a substantial growth in coming years. 

TMR Research's report on global suture anchor market presents actionable insights for the players to support them with better decision making. Moreover, the report also enlightens various aspects such as notable developments, key opportunities, restraints, and regional analysis of global suture anchor market for the time frame of 2018 to 2028. 

Global Suture Anchor Market: Notable Development and Competitive Analysis 

Collaborating with various businesses is one of the major strategies that the players of global suture anchors market are adopting to have a sustainable future in the market. Moreover, acquisition is another step that is helping the businesses to expand their presence in the global market. The reason that is compelling the players to adopt these strategies is the growing competition in the market owing to joining of new players in the market. Already the market is fragmented and is stuffed with various players, it is quite natural that the addition of the new entrants in the global suture anchor market is expected to further intensify the completion. 

Some of the instances where current players of market adopted the strategies of collaboration and merger are mentioned below: 

  • In November 2018, Stryker Corporation acquired K2M Group Holdings, Inc. The acquisition allowed the company to gain access to K2M’s flagship technologies for various orthopedic surgeries including ligament and tendons surgeries, As a result of this acquisition, Stryker Corporation now has technological advantage over its rivals in global suture anchors market. 
  • In October 2018, Zimmer Biomet collaborated with technology giant Apple, Inc. to launch a major clinical study on patients undergone two of the most common surgeries prevalent in U.S. today –hip and knee replacement. As result of this collaboration, Zimmer Biomet shall monitor the progress of the patients through Apple Watch and iPhone, and an app specifically designed interface the data for the two organizations. With the results of this study, Zimmer Biomet can understand how patients are responding to the surgeries that uses sutures and anchors developed by the company. This as a result shall allow the company to design and develop medical equipment specific to the patients. With this development and collaboration Zimmer Biomet is expected to account a major share in the growth of global suture anchors market.

Global Suture Anchor Market: Key Drivers 

Growing Technological Developments to Propel the Growth of the Market 

As a result of technological developments in healthcare sector and incorporation of emerging technologies such as IoT and Artificial intelligence in various surgical equipment are expected to boost the growth of global suture anchor market during the projected timer frame of 2018 to 2028. The market is expected to ride on developments such as STRATAFIX Spiral Knotless Tissue Control Device developed by DePuy Synthes. The suture anchor uses a unique technology that helps the sutures to maintain its line of approximation during the surgery by providing multiple fixation point. 

Growing Demand for Bio-Composites Suture Anchors to Accelerate the Growth 

Owing to benefits such as enhanced visibility of sutures during the surgery, swift insertion and removal of the sutures, and excellent strength of the anchors, the bio-composites sutures anchors are in high demand. Owing to this rising demand for the bio-composites sutures anchors, the market is expected to witness a robust growth in the projected time frame of 2018 to 2028. 

Global Suture Anchor Market: Regional Analysis 

Owing to the factors such as rising participation in sports by youth, and rising number of sports related injuries in U.S. and Canada, North America is expected to dominate rest of the regions of global suture anchor market. The growth is also attributed to the various technological developments by players across the regions. 

The global suture anchor market is segmented on the basis of: 

  • Material 
    • Biocomposite suture anchors
    • PEEK suture anchors
    • Metallic suture anchors
    • Bioabsorbable suture anchors
    • Others

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?